Please find below an information about Hurricane Patricia, written by our fund manager:
Hurricane Patricia in the East Pacific has intensified much more than anticipated. At 12 UTC today, hurricane Patricia was a strong category 5 hurricane with maximum sustained winds of about 325 km/h and a central pressure of about 880 hPa, which is similar to the central pressure of hurricane Wilma in the Atlantic in 2005.
This makes Patricia the strongest hurricane on record in the East North Pacific basin. Hurricane Patricia is expected to remain as a category 5 hurricane until making landfall in the region between Manzanillo and Puerto Vallarta later tonight.
The Cat Bond MultiCat C is likely to be affected by hurricane Patricia but we do not currently hold this bond in any of our portfolios. Please feel free to contact us in case of any questions.